A BRIEF SUMMARY:
• Opening a bank account is possible from the age of 7 in Thailand with a parent’s help, and by 15, kids can open and manage one independently
• Stick with the big banks like SCB, KBANK, BBL, and KTB—they have the most branches and reliable service across Bangkok
• Build the habit, not just the balance: saving THB 1,000 and doubling it yearly from the age of 7 can grow into over THB 2 million by age 18
• Visiting the bank in person teaches you how money works in the real world, and the staff will gladly help if you ask questions.
In Thailand, kids can open a joint account with a parent or legal guardian from the age of seven. The adult is the primary account holder, and the child is listed as a co-holder or beneficiary. From age 15, you can legally open and operate a saving account independently. This includes getting your own ATM or debit card. Whether you are just getting started or planning ahead, here are five things to keep in min when opening your first account:
Stick with the big banks
Siam Commercial Bank (SCB), Kasikorn Bank (KBANK), Bangkok Bank (BBL), and Krung Thai Bank (KTB) are the four largest banks in Thailand.
In Bangkok, each of these banks has between 170 and 200 branches, which means more options if you ever need to walk in and get something done.
SCB and KBANK have better mobile banking applications, which may not matter straight away, but is good to know for later.
Location, location, location
Pick a branch near your home. Most banks offer similar services, so convenience wins.
If you do not have your own phone yet, you will probably have to visit the branch more often, and that is a good thing. Seeing how deposits, withdrawals, and updates work in real life teaches you more than tapping on a screen would.
KTB is government-owned and your parents may have opinions about that. Ask them!
Build habits, not just balances
It is not about how much you put in; it is about how often. Whether it is THB 100 from your birthday or THB 20 from an allowance, build the habit of saving something every time. That habit becomes your superpower later in life.
Things add up. Consider this: if you are seven years old and convince your parents to double your savings every year, starting with just THB 1,000, by the time you are 18, you will have saved over THB 2 million.
Try to get your parents to agree—and test their mental math while you are at it!
Listen to your parents, and think for yourself
Your parents may give you tips—some useful, some a bit outdated. For example, updating a bank book used to be a must. Now, applications often take over that role.
But if you do not have a phone, the bank book is still your record. Ask questions. Try newer tools like cash deposit machines. Learn how things work today, not just how they worked back then.
Bank staff are there to help, use them
Don’t be shy! Bank staff are usually very friendly, especially when they see a kid who is curious and ready to learn. Ask them to explain how something works. They will probably smile and walk you through it.
You will be surprised how much you can understand when you ask.